In the latest HCI Webinar, Dr. Jonathan H. Westover talks with Ginine Capozzi about Establishing ROTI™ (Return on Talent Investment). Below is a summary of the main points from their conversation! Check out the full episode and let us know what you think!
Watch the episode here:
Quick Recap
Ginine and Jonathan discussed the importance of establishing return on investment (ROI) in learning and development, exploring challenges in measuring its impact on business outcomes. They emphasized the need for a strategic approach to L&D, focusing on aligning initiatives with business objectives and demonstrating value through various metrics. The conversation concluded with discussions on tracking training program impacts and potential measurement methods to assess effectiveness.
Establishing ROI in Learning and Development
Ginine and Jonathan discussed the importance of establishing a return on investment (ROI) in the learning and development space. Jonathan emphasized the need to demonstrate the value of training and development to avoid budget cuts during economic downturns. They also discussed Janine Posey's background as an L&D consultant, professional, and coactive coach, and her role in disrupting HR in Buffalo. The conversation then shifted to the origins of ROI, which Ginine explained as a response to the frequent requests from both business and training sides for a clear demonstration of the value of their work.
Measuring L&D Impact in Business Context
Ginine and Jonathan discussed the challenges of measuring the impact of learning and development (L&D) initiatives in a business context. They agreed that traditional ROI metrics often fail to capture the value of L&D, and that a more holistic approach is needed. They explored the idea of using metrics like quality control, hiring, turnover, time to competence, and employee happiness to demonstrate the impact of L&D on business outcomes. They also discussed the importance of aligning L&D initiatives with overall business strategy and the potential of L&D to drive business growth. The conversation ended with a discussion on the need for a more strategic approach to L&D, rather than a reactive one.
Addressing Training Program Challenges and Inefficiencies
Jonathan and Ginine discussed the challenges and inefficiencies in training programs. Jonathan highlighted the lack of clear objectives, connection to business strategy, and assessment methods in many training sessions, which often leads to resistance and skepticism among participants. He suggested that building a strong foundation and connecting training to business problems and desired outcomes could improve its effectiveness. Ginine agreed, emphasizing the importance of reframing training as an opportunity for incremental change rather than a forced transformation. They concluded that making the business case for training and communicating its benefits to participants could increase its value and acceptance.
Strategic Training Impact and Metrics Discussion
Ginine and Jonathan discussed the importance of tracking and measuring the impact of training programs on individuals and the organization as a whole. They emphasized the need for a more strategic and intentional approach to training, with a focus on behavior change and the ripple effect it can have on others. They also acknowledged the challenges of attaching training to metrics and the fear of failure that can hinder progress. Ginine suggested that the fear of failure might be a significant driver of resistance to this approach, and proposed that using a combination of quantitative and qualitative metrics could help alleviate these concerns. Jonathan agreed, highlighting the importance of speaking the language of business and having funding to support these types of programs.
Measuring Training Impact: Challenges and Opportunities
Ginine and Jonathan discussed the challenges and opportunities in measuring the impact of training and development programs. Ginine emphasized the importance of understanding the metrics that matter to the business and the need for a shift from quantitative to qualitative data. She suggested starting with individual self-assessments and qualitative data to build a foundation for understanding the impact of training. Jonathan agreed and encouraged the audience to reach out to Ginine for more information. They also discussed the potential of using the ROTTI measurement method to assess the impact of training. The conversation ended with Ginine offering a downloadable assessment tool from her website.
Listen to the webinar here:
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